Mr. Siddharth has a property whose municipal valuation is Rs. 4,00,000 p.a. The fair rent is Rs.
Fantastic news! We've Found the answer you've been seeking!
Question:
- Mr. Siddharth has a property whose municipal valuation is Rs. 4,00,000 p.a.
- The fair rent is Rs. 1,50,000 p.a. and the standard rent fixed by the Rent Control Act is Rs. 3,00,000 p.a.
- The property was let out for a rent of Rs. 20,000 p.m. However, the tenant vacated the property on 31.1.2019.
- Unrealised rent was Rs. 20,000. He paid municipal taxes @12% of municipal valuation. Interest on borrowed capital was Rs. 80,000 for the year.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: